Two brief days of hiatus from the bond bloodbath are over as following Yellen’s testimony, 30Y yields have raced higher once again, breaking above 3.00%. Interestingly, EM bonds are having a big week even as DM bonds suffer…
As Bloomberg’s Mark Cudmore warns “don’t fight the Trump tidal wave”…
Trying to fight these market moves is like trying to stand your ground against a tsunami. Your line in the sand is arbitrary, you’ve nothing reliable to cling to, and even if you survive, the market will move on around you.
It’s so much easier to be carried along with the flow, and that’s what most investors will do, whether they want to or not. That way, even after the market recedes back to sustainable levels, you’ve hopefully been carried to some profitable higher ground.
This post was published at Zero Hedge on Nov 17, 2016.
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